June 9, 2026
S&P futures are up 0.4% Tuesday morning after a mostly stronger Monday session that saw semis and memory rebound from Friday’s sharp selloff, though the group faded a bit through the day. Global tone is firmer, with European markets mostly higher after a stronger Asian session and South Korea rebounding from Monday’s tech-led rout. Treasuries are firmer across the curve after a two-day yield backup, the dollar is down 0.2%, gold and silver are modestly lower, Bitcoin futures are down 1.2%, and WTI crude is off 2.4%.
The geopolitical backdrop appears to have stabilized somewhat after the weekend escalation. Israel seems to be heeding Trump’s call for restraint in Lebanon, while Trump said the U.S. is close to a “strong, powerful deal” with Iran, though without specifics. The market remains supported by a solid macro backdrop and strong appetite for upcoming mega-IPOs, but unsettled Iran headlines, sticky inflation, and potential Fed tightening remain key overhangs.
Economic Calendar
May NFIB small-business optimism fell to 95.3 from 95.9, with job openings and hiring plans dropping to six-year lows. Today also brings ADP private employment, April trade balance, May existing-home sales, and a $58B 3-year Treasury auction. Wednesday’s key release is May CPI, with headline CPI expected up 0.5% m/m and core CPI expected up 0.3%. Thursday brings PPI, initial claims, and a $22B 30-year auction, while preliminary June University of Michigan sentiment and inflation expectations cap the week Friday.
Company News
- OpenAI: Filed confidentially for an IPO, though it did not disclose size or timing. Some estimates suggest the company could target a valuation of up to $1T, though OpenAI said it may take time and still values the flexibility of remaining private.
- Anthropic / APO / BX: Anthropic finalized a $35B financing deal with Apollo and Blackstone to expand AI infrastructure.
- Perplexity: CEO told CNBC the company is planning to go public in 2028.
- AAPL: WWDC updates were viewed as underwhelming, with Siri AI upgrades failing to meet elevated expectations.
- GSK / NUVL: GSK announced it will acquire Nuvalent for $10.6B in cash.
- MTN: Revenue was in line, but the company pointed to the low end of guidance on softer season-pass sales.
- SJM / SAIL: Reporting this morning.
- ORCL / ADBE: Key earnings later this week, with Oracle after the close Wednesday and Adobe after the close Thursday.
U.S. equities finished mostly higher Monday, though off best levels, with the Dow down 0.16%, S&P 500 up 0.30%, Nasdaq up 0.86%, and Russell 2000 up 0.77%. The session marked a partial rebound from Friday’s sharp selloff, led by a recovery in semis and memory. Treasuries were unchanged to weaker at the long end after Friday’s bear-flattening move, with the 10-year yield up 2 bp to 4.57% and the 30-year up 3 bp to 5.04%. The dollar index slipped 0.1%, gold was fractionally lower, silver fell 0.8%, Bitcoin futures rose 5.0% after dropping roughly 17% last week, and WTI crude gained 0.8% to $91.27, though it finished well off session highs.
The macro narrative remained centered on the market’s resilience after last week’s tech-led selloff, ongoing AI capex optimism, and still-noisy Middle East headlines. Weekend escalation between Iran and Israel appeared to pause for now, but there was little evidence of progress toward a peace agreement. Investors still appear to expect a deal eventually, even if timing remains uncertain. AI remained a major sentiment support, helped by reports of Google ordering Intel chips, Amazon’s fiber-optic agreement with Corning, Nvidia/SK Hynix memory collaboration, and Anthropic’s reported confidential IPO filing. Apple’s WWDC commentary on Siri and AI enhancements was viewed as underwhelming and weighed on sentiment later in the day. On the data front, the NY Fed’s one-year inflation expectations eased 0.1 pp to 3.5% in May, though household expectations for future financial conditions deteriorated to the worst level since October 2022.
Sector performance was mixed. Technology led, up 1.47%, helped by semis, memory, tech hardware, and AI-linked names. Energy rose 1.14%, and Consumer Discretionary gained 0.49%. The rest of the sectors finished lower: Healthcare fell 0.22%, Consumer Staples declined 0.31%, Industrials lost 0.34%, Financials fell 0.57%, Communication Services declined 1.07%, Materials lost 1.28%, Real Estate fell 1.62%, and Utilities were the weakest group, down 1.93%. Outperformers included semis, memory, energy, managed care, trucking, retail/apparel, autos/suppliers, quantum computing, small caps, most-shorted names, and retail-investor favorites. Laggards included software, large-cap banks, P&C insurers, payments, exchanges, pharma/biotech, E&Cs, aerospace and defense, airlines, ag chemicals, containerboard, household products, and China tech.
Information Technology
- NVDA / SK Hynix: Announced a multi-year agreement to design new memory chips for AI, adding to the broader AI infrastructure and memory-demand narrative.
- INTC +11.1%: Rallied after reports that Nvidia and Google are evaluating Intel as a potential backup to TSMC for advanced chip manufacturing. Google also reportedly ordered Intel to produce more than 3M TPUs in 2028.
- CBRS +18.3%: Initiated overweight at Morgan Stanley, which argued Cerebras is well positioned to capture the AI inference opportunity as one of the most differentiated AI infrastructure companies.
- MRVL +9.6%: Set to be added to the S&P 500 effective June 22, along with Flex, replacing Pool and Campbell’s.
- GLW +5.6%: Rose after Amazon announced a multi-billion-dollar agreement with Corning to supply optical fiber, cable, and connectivity solutions for Amazon data-center infrastructure.
- CHKP -4.8%: Disclosed a security vulnerability affecting Remote Access VPN and Mobile Access in certain security gateway configurations and released a software update.
- WIX -8.0%: Lowered FY26 bookings-growth and Q2 revenue-growth outlooks, citing a roughly $50M bookings decline and $25M revenue hit tied to organizational realignment and a sharper-than-expected slowdown.
Communication Services
- AAPL: WWDC commentary focused on AI enhancements for Siri, though the announcements appeared to underwhelm investors.
- OpenAI: Reportedly planning the biggest overhaul of ChatGPT since launch.
- Anthropic: Reportedly filed confidentially for an IPO and expanded access to Mythos in Europe after the European Commission sought access to study cybersecurity concerns.
- GME / EBAY: GameStop CEO Ryan Cohen said he is willing to take an offer directly to eBay shareholders.
Consumer Discretionary
- KTB +3.9%: Initiated overweight at JPMorgan, which expects growth acceleration into FY27 as the company narrows its focus on function-based brands, including Wrangler and Helly Hansen.
- CAR +1.3%: Upgraded to equal weight from underweight at Barclays, which cited positive rental-car fundamentals into Q2, potential for a guidance raise, and an EBITDA tailwind after canceling the Verra Mobility contract.
- CROX +1.1%: Upgraded to outperform from neutral at Baird, which cited positive growth inflections for Crocs North America and HEYDUDE.
- Retail/apparel and autos/suppliers: Outperformed within Consumer Discretionary.
Consumer Staples
- CPB: Earnings takeaways were positive, but the stock was pressured by its upcoming removal from the S&P 500.
Financials
- MSTR +5.6%: Resumed buying Bitcoin, purchasing 1,550 Bitcoin between June 1 and June 7 for $101.3M, following its recent disclosure of the first Bitcoin sale since 2022.
- Large-cap banks / payments / exchanges: Underperformed, weighing on the broader Financials sector.
Healthcare
- TNGX +53.0%: Initial Phase 1/2 data for vopimetostat combinations in MTAP-deleted, RAS-mutant cancers showed strong efficacy and favorable tolerability, particularly in pancreatic cancer, with no new safety concerns.
- NRIX +6.8%: Announced a global collaboration with Roche to develop and commercialize blood-cancer drug bexobrutideg. Nurix will receive $700M upfront and could receive up to $2.3B in potential payments.
- LLY +1.6%: Announced additional positive Phase 3 results for GLP-1 retatrutide, showing substantial weight loss and improvements across osteoarthritis pain, sleep apnea, and type 2 diabetes.
- J&J: Agreed to acquire cancer-drug technology developer Firefly Bio for $1B.
Industrials
- BRC -15.1%: CEO Russell Shaller will retire, with board member Vineet Nargolwala set to become CEO effective June 8.
- GHM -11.0%: Fiscal Q4 earnings and revenue beat, with momentum in Space and Defense, but Energy & Process was flat y/y and unfavorable mix pressured gross margin. FY27 adjusted EBITDA guidance bracketed consensus.
- Trucking: Outperformed, while E&Cs, aerospace and defense, airlines, and containerboard lagged.
Materials
- CBT +2.5%: Initiated buy at Truist, which cited a discounted valuation versus peers and potential for the Reinforcement Materials business to return to earnings growth in FY27.
- Ag chemicals / containerboard: Underperformed within Materials.
Eco Data Releases | Tuesday June 9th, 2026
S&P 500 Constituent Earnings Announcements | Tuesday June 9th, 2026
Data sourced from FactSet Research Systems Inc.
